On December 21, the American stock indexes finished trading in different directions. The S&P 500 Index dropped 0.39% to 3695 points, the NASDAQ lost 0.10% and the Dow Jones added 0.12%. The drop at the beginning of the session turned out to be short-lived, while optimism regarding fiscal stimulus prevailed. The Dow Jones’ positive result can be explained in part by a relatively higher share of the financial sector, which became the leader of growth with a result of 1.24% amid the permission given to banks to resume share buyback programs.
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JPMorgan (JPM: + 3.7%) announced a $ 30 billion share buyback program, a similar program for Morgan Stanley (MS: + 5.7%) will total $ 10 billion.
Nike (NKE: + 4.9%) reported quarterly results better than expected thanks to strong international sales and online segment.
According to media reports, Apple (AAPL: + 1.2%) is working on various options to enter the electric vehicle market by 2024.
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Today, world stock exchanges are showing mostly positive dynamics. Yesterday’s negative caused by the global epidemiological situation was leveled by the achievement of a long-awaited compromise between the legislators. Legislators voted to pass a $ 900 billion bailout package for the American economy. Once signed by Donald Trump, it will enter into force. Already next week, the Americans will be sent checks in the amount of $ 600 per family member. It is also important to note additional payments to unemployment benefits in the amount of $ 300 per week and $ 325 billion in business assistance. Capital Economics estimates that the measures taken will accelerate GDP growth by about 0.5% in 2021.
The situation in the UK, where more and more regions are imposing strict quarantines, is of concern. All schools are also expected to close, as children may carry a new, more contagious strain of coronavirus. Given the continued grave disease situation in the United States, weak social distancing during the holidays and already actually approved support measures, the authorities may resort to tightening local quarantine measures, which the mayor of New York has already spoken about.
Economic Highlights
CB’s US Consumer Confidence Index for December will be released this Tuesday. The index is expected to rise from 96.1 to 97.0, which will signal a moderate increase in consumer optimism. The vaccination factor, as well as the fiscal support measures approved the day before, will be reflected only in the next releases of the indicator, so today’s publication will have a limited impact on investor sentiment.
Today Top Movers
Aurora Mobile Ltd (JG) share price is at $4.44, increased 39.18% in today’s premarket trading session following the declaration from the company that it has entered into a partnership agreement with a global leading new energy vehicle manufacturer to deliver an enhanced intelligent driving experience.
Sportsmans (SPWH) share price soared 34.94% at $17.07 in early morning session on Tuesday after announcing a definitive agreement to join the Great American Outdoors Group, parent company of Bass Pro Shops, Cabela’s, White River Marine Group and a collection of nature-based resorts.
MDC Partners Inc (MDCA) is up 21.07% at $2.70 today, in premarket trading session after the company and Stagwell Media LP revealed that they have entered into a definitive transaction agreement to combine their respective businesses.
Elys Game Technology Corp (ELYS) increasing 28.27% at $6.67 in premarket trading on Tuesday.
Analyst Upgrades and Downgrades
Oppenheimer turned bullish on T-Mobile Us Inc (NASDAQ: TMUS) , upgrading the stock to ” Outperform”.
Vista Outdoor Inc (NYSE: VSTO) has won the favor of Cowen’s equity research team. The firm upgraded the shares from Market Perform to Outperform and moved their price target to $33.
Mercadolibre Inc (NASDAQ: MELI) received an upgrade from analysts at Santander, who also set their one-year price target on the stock to $1,980. They changed their rating on MELI to Buy from Hold in a recently issued research note.
Earlier Tuesday BofA reduced its rating on Chubb Ltd (NYSE: CB) stock to Underperform from Neutral and assigned the price target to $138.
Citi analysts reduced their investment ratings, saying in research reports covered by the media that its rating for HMS Holdings Corp (NASDAQ: HMSY) has been changed to Neutral from Buy with a price target of $3
Analysts at Longbow downgraded Hyatt Hotels Corporation (H)’s stock to Neutral from Buy on Tuesday.
Latest Insider Activity
Uber Technologies Inc. (UBER) See Remarks West Tony announced the sale of shares taking place on Dec 17 at $50.56 for some 25,000 shares. The total came to more than $1.26 million.
Peloton Interactive Inc. (PTON) Director Draft Howard C. sold on Dec 17 a total 143,695 shares at $136.24 on average. The insider’s sale generated proceeds of almost $0.68 million.
AIM ImmunoTech Inc. (AIM) CEO EQUELS THOMAS K. declared the purchase of shares taking place on Dec 17 at $1.72 for some 14,535 shares. The transaction amount was around $25000.0.
AquaBounty Technologies Inc. (AQB) Director HUBER RICHARD L bought on Dec 14 a total 71,311 shares at $6.50 on average. The purchase cost the insider an estimated $65,000.
Earnings To Watch Today
Top US earnings releases scheduled for today include Triterras Inc. (NASDAQ:TRIT). It will announce its Nov 2020 financial results. The company is expected to report earnings of $0.08 per share from revenues of $16.3M in the three-month period.
Analysts expect CarMax Inc. (NYSE:KMX) to report a net income (adjusted) of $1.14 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Nov 2020 is predicted to come in at $5B.
cbdMD Inc. (YCBD), due to announce earnings after the market closes today, is expected to report earnings of -$0.01 per share from revenues of $11.2M recently concluded three-month period.
